Phaata Co.,Ltd

Phaata Co.,Ltd

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Phaata Co.,Ltd

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Phaata Co.,Ltd

20-05-2024 10:21

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International shipping and logistics market update - Week 20/2024
International logistics and container shipping market update on Asia, Europe and North America routes in the week 20/2024.

International shipping and logistics market update - Week 20/2024

International shipping and logistics market update - Week 20/2024

 

Drewry’s World Container Index for the week 0/2024 continued to increase sharply by 11% compared to the previous week, to 3,511 USD. This freight index increased 104% compared to the same week last year and was 147% higher than the 2019 average before the pandemic (1,420 USD).

 

Drewry’s World Container Index Week 20/2024

Drewry’s World Container Index Week 20/2024 (Photo: Phaata | Source: Drewry)

 

1. Asia - Northern America route

 

The freight rates from Asia to the West Coast of North America in the week 20/2024 continued to increase to 4,025 USD/FEU, equivalent to an increase of 3.82% compared to the previous week and an increase of 17.24% compared to the previous month, according to Xeneta data.

The new annual contract season begins on May 1 with the application of a high general rate increase (GRI). The increase in spot freight rates is due to strong US import demand and the extension of long-term fixed-price contracts, leading to ships operating near full capacity. Rising freight rates have increased the difference between fixed freight rates in long-term contracts and floating freight rates. At the same time, it may lead to many shipments being transferred to bookings at the price of long-term contracts in May.

The Panama Canal Authority announced another increase in daily ship movements. However, shipping lines remain cautious about redeploying capacity through the canal as demand for the number of ships passing through the Cape of Good Hope remains high and restrictions on vessel weight restrictions when passing through the Panama Canal remain in place. apply.

Rail unions in Canada have announced a possible strike starting on May 22. A strike that would affect all rail services in Canada.

 

Asia-US West Coast Freight rate | Week 20/2024

Asia-US West Coast Freight rate | Week 20/2024 (Image: Phaata.com)

 

2. Asia - Northern Europe route:

 

The rate for container shipping from Asia to Northern Europe in the week 20/2024 continued to increase slightly to 3,805 USD/FEU, equivalent to an increase of 1.93% compared to the previous week and an increase of 16.65% compared to the previous month, according to Xeneta data.

Market demand shows signs of increasing again. Shipping lines announced the application of GRI (General Rate Increase) in May.

The Red Sea situation continues to be chaotic as ships have to reroute via the Cape of Good Hope, affecting on-time performance and scheduled reliability. Ships moving in the area are still at risk of being attacked by drones. Ships passing through the Mediterranean may be affected.

Bookings remain high after China's Labor Day holiday. Another GRI (General Rate Increase) is expected in the second half of May at around $1000/FEU. Shippers are speeding up shipments earlier to avoid increased shipping costs.

Currently, the number of sailing is expected to be full until Week 21 (last week of May). Week 22 is about to end. Reservations should be made four weeks in advance if possible.

Many shipping lines such as CGM CMA, Evergreen, Hapag Lloyd, Yangming and HMM have reported a shortage of empty container equipment. It is expected that the situation will be difficult throughout May until the number of empty containers improves. Shippers should pick up empty containers for packing as soon as possible.

 

Asia-Northern Europe Freight rate | Week 20/2024

Asia-Northern Europe Freight rate | Week 20/2024 (Image: Phaata.com)

 

3. Northern America - Asia route:

 

The freight rates from North America (West Coast) to Asia in the week 20/2024 continued to decrease to 723 USD/FEU, down 3.47% compared to the previous week, and down 5.49% compared to the previous month, according to Xeneta data.

Capacity remains available for vessels sailing from major U.S. ports to discharge ports in Asia, Northern Europe and the Mediterranean.

Some inland rail locations have container equipment problems related to the global disruption of container flows. When making loading reservations at U.S. domestic railroad locations, shippers are advised to make reservations 3-4 weeks in advance of the sailing's departure date.

 

US West Coast - Asia Freight rate | Week 20/2024

US West Coast - Asia Freight rate | Week 20/2024 (Image: Phaata.com)

 

4. Northern Europe-Asia route:

 

The freight rate from Northern Europe to Asia in the week 20/2024 continued to decrease slightly to 797 USD/FEU, equivalent to a decrease of 0.87% compared to the previous week; and decreased by 9.84% compared to the previous month.

 

Northern Europe - Asia Freight rate | Week 20/2024

Northern Europe - Asia Freight rate | Week 20/2024 (Image: Phaata.com)

 

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Source: Phaata.com 

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Phaata Co.,Ltd

17-05-2024 22:13

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Port of Hamburg handles nearly 2 million TEUs in the Q1 2024
The Port of Hamburg handled 1.9 million TEUs in the first quarter of 2024, a slight increase of 1.1% over the same period last year.

Port of Hamburg (Source: Hafen Hamburg Marketing)

 

The Port of Hamburg handled 1.9 million TEUs in the first quarter of 2024, a slight increase of 1.1% over the same period last year. At the same time, container throughput through Hamburg port also increased by 0.7% to 19 million tons.

Axel Mattern, CEO of Hafen Hamburg Marketing (HHM), explains, "The development of container throughput suggests that, despite the current events in the Red Sea, trade is stabilising and the recovery process is continuing."

However, Mattern pointed out that "the quarterly results cover a short period of time and are not indicative of throughput trends for the remainder of the year."

The total seaborne cargo throughput in the first three months of this year was 27.4 million tons, down 3.3% over the same period last year. According to port officials, the main reason was lower bulk cargo turnover, at 8.2 million tons, down 11.9% compared to the previous year. Notably, the amount of liquid goods decreased, due to the currently high inventory level.

A look at the Port of Hamburg's strongest container shipping routes reveals a remarkable record of throughput with the United States. In the first three months of the year, 179,000 TEUs were handled, representing an increase of 17.7%. At the same time, container shipping from China still leads with 536,000 TEU and increased by 2.9%.

In total, the Port of Hamburg handled 625,400 TEUs of transshipment container traffic, an increase of 3% over the same period last year.

In addition, inland seaport transport by rail remained stable in the first quarter. Container throughput increased by 0.9% to 641,000 TEU. As a result, rail transport accounts for more than half of domestic container traffic.

 

Source: Phaata.com (According to ContainerNews) 

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Phaata Co.,Ltd

16-05-2024 09:41

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Hapag-Lloyd reports sharp decline in Q1 financial results
Hapag-Lloyd ended the first quarter of 2024 with revenues falling to $4.6 billion mainly due to a decline in average freight rates of $1,359/TEU (1Q23: $1,999/TEU).

Hapag-Lloyd shipping line containers

 

Hapag-Lloyd - German container shipping line - ended the first quarter of 2024 with revenues of USD 4.6 billion and Group EBITDA of USD 942 million. Additionally, Hapag-Lloyd recorded EBIT of USD 396 million and profit of USD 325 million.

All numbers are down significantly compared to the same period last year.

According to a report by Hapag-Lloyd, in the Ocean Freight segment, shipping volumes in the first quarter of 2024 increased by 6.8%, to 3 million TEUs (Q1 2023: 2.8 million TEUs). Transportation costs were on par with the same period last year, at USD 3.3 billion (EUR 3 billion). Although costs increased significantly as a result of rerouting ships around the Cape of Good Hope, these costs were largely offset by aggressive cost management.

Revenue decreased to USD 4.6 billion (EUR 4.3 billion), mainly due to lower average freight rates, at USD 1,359/TEU (Q1 2023: USD 1,999/TEU). Compared to the same period last year, EBITDA decreased to USD 906 million (EUR 835 million) and EBIT to USD 378 million (EUR 348 million).

Rolf Habben Jansen, CEO of Hapag-Lloyd AG said: “Even though our results are significantly below the exceptionally strong figures from the previous year owing to the normalisation of supply chains, we are pleased to have got the new year off to a good start."

He went on to add, "The rates stabilised in the first quarter due to the rerouting of ships around the Cape of Good Hope and higher demand for capacity. The numerous new ships that have been and will be delivered across the industry in 2024 have been instrumental to keep the Supply Chains going without too much disruption."

Jansedn pointed out that "Going forward, we must keep a close eye on our costs, and we will continue the implementation of our Strategy 2030 – with main focus on our decarbonisation initiatives and our promise to be the undisputed number one for quality for our customers."

In light of the business results achieved in the first quarter of 2024, the company's Executive Board adjusted its forecast for the current fiscal year, announced on March 14.

Group EBITDA is currently forecast to be between $2.2-$3.3 billion and Group EBIT is between USD 0 - USD 1.1 billion, while it is still expected that the majority of results is expected to be created in the first half of this year.

 

Hapag-lloyd Group's financial results for Q1 2024

Hapag-lloyd Group's revenue in the first quarter of 2024 (Source: Hapag-lloyd)

 

Hapag-lloyd shipping line's volume and revenue in Q1 2024

Hapag-lloyd shipping line's volume and revenue in Q1 2024 (Source: Hapag-Lloyd)

 

 

Financial results of Hapag-lloyd Group's terminal and infrastructure segment in Q1 2024

Financial results of Hapag-lloyd Group's terminal and infrastructure segment in Q1 2024 (Source: Hapag-Lloyd)

 

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Source: Phaata.com (According to Hapag-Lloyd) 

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Phaata Co.,Ltd

15-05-2024 11:32

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HMM and SM Line cooperate on trans-Pacific service amid changing alliances
Korean shipping lines including HMM and SM Line cooperated with each other for the first time on long-distance routes amid fluctuations in container shipping alliances.

HMM container ship

A HMM container ship (Source: HMM)

 

On May 13, SM Line said they would each take on 300 TEUs on each other's Asia-US West Coast services, starting in June.

HMM will take slots on SM Line's CPX (China Pacific Express) service calling at Qingdao, Shanghai, Ningbo, Busan, Incheon, Gwangyang, Los Angeles, Oakland, Long Beach and Portland. CPX uses six 6,655 TEU vessels, with a turnaround time of six weeks.

SM Line will take slots on HMM's Pacific South Express (PSX) service, calling at Shanghai, Gwangyang, Busan, Los Angeles, Oakland, Busan, Gwangyang, Incheon and Shanghai. The PSX service has seven-week sailings, using six vessels with capacities ranging from 8,600 to 10,000 TEU. The seventh vessel - a new 13,800 TEU vessel - named HMM Emerald, will join the service later this month.

SM Line joins other THE Alliance members such as Hapag-Lloyd, ONE and Yang Ming Marine Transport in joining the PSX service.

The partnership between the two Korean shipping lines coincides with an upheaval in container shipping alliances.

With Hapag-Lloyd shipping line leaving THE Alliance to form the Gemini Cooperation alliance with Maersk Line in February 2025, it has become increasingly necessary for THE Alliance members to attract other shipping companies as partners.

Cooperation with SM Line shows that HMM will strengthen its sales network by actively promoting ship sharing not only with foreign shipping lines but also with fellow shipping lines.

A spokesperson for HMM told Container News that the company is always open to collaborating with other companies.

Xeneta principal analyst Peter Sand told Container News that THE Alliance members will likely increase cooperation with other container shipping lines, rather than seek to replace Hapag-Lloyd in the alliance.

“I think this will be a trend that many Alliance partners will continue to make use of going forward. No Alliance is holy. Not now, not in the future. But for THE Alliance members the need to go out and find other partners to team up with on specific trades may be more pronounced due to the size of the capacity operated under the alliance structure", said Sand.
 

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Source: Phaata.com (According to ContainerNews) 

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Phaata Co.,Ltd

14-05-2024 08:43

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COSCO SHIPPING establishes new warehouse in Los Angeles, USA
COSCO SHIPPING officially launched an order fulfillment warehouse, approximately 16,500 square meters, in the Greater Los Angeles area, 60 minutes from the Port of Los Angeles and Los Angeles Airport.

COSCO SHIPPING established a new warehouse in Los Angeles, USA

 

COSCO SHIPPING said this expansion of its global warehouse network is an important step to enhance its ability to meet the growing logistics needs of cross-border business and establish a comprehensive logistics solution suitable for customers. cross-border e-commerce goods.

Spanning approximately 16,500 square meters, this new warehouse is located in the Greater Los Angeles area, just 60 minutes from the Port of Los Angeles and Los Angeles Airport. The highly efficient warehouse can be unloaded and loaded within 48 hours, with 95% of goods dispatched within the first 24 hours and 98% of goods dispatched within 48 hours.

The warehouse offers a variety of services, including dropshipping, medium and large freight shipping, end-to-end truck dispatching, and comprehensive warehouse operations.

Implementing modern OMS/WMS systems will enhance the EDI process, supported by comprehensive information technology systems in operations and maintenance ensuring stable operations and fully intuitive management. This allows customers to access real-time freight operations and effectively manage various operational challenges.

 

Source: Phaata.com (According to ContainerNews) 

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Phaata Co.,Ltd

11-05-2024 12:14

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International shipping and logistics market update - Week 19/2024
International logistics and container shipping market update on Asia, Europe and North America routes in the week 19/2024.

International shipping and logistics market update - Week 19/2024

International shipping and logistics market update - Week 19/2024

 

Drewry’s World Container Index for the week 19/2024 increased sharply by 16% compared to the previous week, to 3,159 USD. This freight rate index increased 88% compared to the same week last year and was 122% higher than the 2019 average before the pandemic (1,420 USD).

 

Drewry’s World Container Index Week 19/2024Drewry’s World Container Index Week 19/2024 (Photo: Phaata | Source: Drewry)

 

1. Asia - Northern America route

 

The freight rates from Asia to the West Coast of North America in the week 19/2024 increased sharply to 3,877 USD/FEU, equivalent to an increase of 17.63% compared to the previous week and an increase of 11.66% compared to the month ago, according to Xeneta data.

The new annual contract season begins on May 1 with the application of a high general rate increase (GRI). The increase in spot freight rates is due to strong US import demand and the extension of long-term fixed-price contracts, leading to ships operating near full capacity. Rising freight rates have increased the difference between fixed freight rates in long-term contracts and floating freight rates. At the same time, it may lead to many shipments being transferred to bookings at the price of long-term contracts in May.

The Panama Canal Authority announced another increase in daily ship movements. However, shipping lines remain cautious about redeploying capacity through the canal as demand for the number of ships passing through the Cape of Good Hope remains high and restrictions on vessel weight restrictions when passing through the Panama Canal remain in place. apply.

Rail unions in Canada have announced a possible strike starting on May 22. A strike that would affect all rail services in Canada.

 

Asia-US West Coast Freight rate | Week 19/2024Asia-US West Coast Freight rate | Week 19/2024 (Image: Phaata.com)

 

2. Asia - Northern Europe route:

 

The rate for container shipping from Asia to Northern Europe in the week 19/2024 increased sharply to 7,733 USD/FEU, equivalent to an increase of 15.82% compared to the previous week and an increase of 11.63% compared to the previous month, according to Xeneta data.

Market demand shows signs of increasing again. Shipping lines announced the application of GRI (General Rate Increase) in May.

The Red Sea situation continues to be chaotic as ships have to reroute via the Cape of Good Hope, affecting on-time performance and scheduled reliability. Ships moving in the area are still at risk of being attacked by drones. Ships passing through the Mediterranean may be affected.

Bookings remain high after China's Labor Day holiday. Another GRI (General Rate Increase) is expected in the second half of May at around $1000/FEU. Shippers are speeding up shipments earlier to avoid increased shipping costs.

Currently, the number of sailing is expected to be full until Week 21 (last week of May). Week 22 is about to end. Reservations should be made four weeks in advance if possible.

Many shipping lines such as CGM CMA, Evergreen, Hapag Lloyd, Yangming and HMM have reported a shortage of empty container equipment. It is expected that the situation will be difficult throughout May until the number of empty containers improves. Shippers should pick up empty containers for packing as soon as possible.

 

Asia-Northern Europe Freight rate | Week 19/2024Asia-Northern Europe Freight rate | Week 19/2024 (Image: Phaata.com)

 

3. Northern America - Asia route:

 

The freight rates from North America (West Coast) to Asia in the week 19/2024 were at 749 USD/FEU, down 2.73% from the previous week, and down 1.06% from the previous month, according to Xeneta data.

Capacity remains available for vessels sailing from major U.S. ports to discharge ports in Asia, Northern Europe and the Mediterranean.

Some inland rail locations have container equipment problems related to the global disruption of container flows. When making loading reservations at U.S. domestic railroad locations, shippers are advised to make reservations 3-4 weeks in advance of the sailing's departure date.

 

US West Coast - Asia Freight rate | Week 19/2024US West Coast - Asia Freight rate | Week 19/2024 (Image: Phaata.com)

 

4. Northern Europe-Asia route:

 

The freight rate from Northern Europe to Asia in the week 19/2024 decreased sharply to 804 USD/FEU, equivalent to a decrease of 7.27% compared to the previous week; and decreased by 3.25% compared to the previous month.

 

Northern Europe - Asia Freight rate | Week 19/2024Northern Europe - Asia Freight rate | Week 19/2024 (Image: Phaata.com)

 

Find Freight rates here.
 
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Source: Phaata.com 

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Phaata Co.,Ltd

10-05-2024 16:34

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Yang Ming reports financial results for Q1 2024
Yang Ming reported Q1 2024 revenue of US$ 1.39 billion and net profit after tax of US$ 298.42 million with EPS of NT$2.69.

Yang Ming container ship

 

Yang Ming reported first-quarter 2024 revenue of US$ 1.39 billion and net profit after tax of US$ 298.42 million with EPS of NT$ 2.69.

Yang Ming said that in the first three months of the year, the supply chain of the container shipping industry faced challenges from the Red Sea crisis, causing ships to divert to the Cape of Good Hope, which absorbed ship capacity. Meanwhile, demand improved thanks to gradually improving manufacturing PMIs of major economies, inventory drawdowns on the customer side and manufacturers resuming production after the Lunar New Year. Overall, the company achieved positive results in Q1.

According to Yang Ming, "The Organization for Economic Cooperation and Development (OECD) upped the global GDP growth rate for 2024 by 0.2% from February's forecast to 3.1% on 2nd May. Despite the steady growth of global economy, geopolitical risks persist. Furthermore, the U.S., India, and other emerging markets are showing strong signs of recovery. With fiscal stimulus measures, China's economic growth is expected to surpass expectations, and inflation is easing in most economies. Major central banks worldwide may consider cutting interest rates to boost household purchasing power and economic growth. Nonetheless, potential geopolitical conflicts escalating could disrupt energy and financial markets, impacting the global economy significantly."

According to Alphaliner, capacity supply growth in 2024 is expected at 9.7%, exceeding demand growth at 3%. However, uncertainties remain in the maritime industry, with geopolitical factors causing ship delays and port congestion. Furthermore, shipping restrictions through the Panama Canal continue despite improved water levels.

According to Yang Ming, these conditions are expected to last until 2025, affecting the stable supply of ships and services. The company said it will continue to “cautious and actively adjust business strategies for vessels, containers, and terminals to provide global customers with stable and efficient transportation services.”
 

Source: Phaata.com (According to Yang Ming) 

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